Crypto Price Today: Top Cryptocurrency Prices Today: Bitcoin Gain, Terra, Solana; Cardano down 7%

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New Delhi: Crypto prices remained lethargic on Wednesday as the Fed’s hawkish stance and economic woes continued to spook crypto investors.

Except for Bitcoin, Terra, and Solana, the other seven digital tokens in the top 10 were trading lower at the start of the trade. Cardano fell 6%, thanks to the booking of over-the-counter profits. Bitcoin was holding above the $42,000 mark, although Ethereum slipped below the $3,200 levels.

The global crypto market capitalization fell about one percent to $2 trillion from the last day. Total crypto market volumes were flat, nearly unchanged at $77.46 billion.

As Bitcoin heads into 2022, a growing cohort of long-term investors are doubling their cryptocurrency reserves, hoping a December drop was just a blow.

What’s coming in IndiaIndian cryptocurrency exchanges are evaluating updates to their self-regulatory code of conduct to avoid run-ins with regulators. IAMAI and BACC did not respond to ET’s questions seeking comment. The move comes amid scrutiny of the sector by regulators including the income tax department, the law enforcement branch and others.

Expert considers that BTC continues to trade sideways like other altcoins like BNB, ADA and XRP trad in the red, CoinDCX Research Team. “Ahead of the House Energy and Commerce Committee hearing on the use of energy in cryptocurrency and blockchain, we can expect the crypto market to face bigger battles. difficult,” he added.

Global Updates

Singapore and China’s Silicon Valley, the city of Shenzhen, are building what is likely the world’s first blockchain-based network for cross-border trade data exchange between two major economies. Animoca Brands, an investor in non-fungible token (NFT) and metaverse projects, raised nearly $360 million at a valuation of $5.5 billion. Bahrain-based cryptocurrency exchange Rain Financial has raised $110 million in a Series B funding round co-led by Paradigm and Kleiner Perkins, CoinDesk reported. Streamlining NFTsOpenSea, a non-fungible token (NFT) marketplace, set a new daily volume record of $261 million on Sunday. It has averaged $169 million in daily trading volume so far this month.

It saw its monthly Ether (ETH) trading volume surpass $3.5 billion for the first time with two weeks remaining in January.

New competitors are rapidly gaining ground on OpenSea, and one of the main contenders is LooksRare, a new NFT marketplace that started earlier this month and is already overtaking OpenSea in terms of trading volumes, according to Dune Analytics.

The lack of great competition was one of the main reasons for its success. That could change in 2022 as many platforms look to capitalize on the potential, WazirX Trade Desk said.

“The market is still in turmoil which could easily bring newcomers like the recently launched ‘LooksRare’ into the fray. Based on the numbers above, NFT might not be an FAD as it could play a pivotal role in the metaverse,” he added.

Tech View of BuyUcoinPolygon’s MATIC is one of the top 20 performing cryptocurrencies. Even throughout the recent crisis, it traded above the 200-MA.

Matic is trading in a parallel channel. After trading mostly in the upper zone, Polygon (MATIC) fell back to the lower red part of the channel, i.e. the support, which was followed by a bullish retracement towards $2.50.

CONTRIBUTORS AND With the Relative Strength Index (RSI) around 50, the price seems to be piling up a bit in the middle of the trend channel. Near-term price activity could go either way, but the upside is likely to continue as the Polygon London hard fork is set to go live.

He is still aiming for the fair target of $3. It will be interesting to see how far MATIC can go in light of current events.

(The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in any assets mentioned.)

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